A recent global survey revealed that a significant number of organisations across the globe admit that finding good quality technology professionals is their biggest challenge. According to the survey report, titled ‘Tech Hiring & Technology Adoption Trends 2019’, brought out by Mercer-Mettl, of the 350 industry leaders from more than 200 companies surveyed, 42 per cent found it very difficult to obtain ace tech talent.
It is true that the digitisation wave has led to a major increase in the demand for technology talent across the world. However, the demand-supply gap appears to be fast widening. The reasons are many. For one, there is widespread lack of sufficient knowledge related to technology-driven best practices.
About 20 per cent respondents felt that the time required to close a technical position was one of the main reasons why candidates were difficult to finalise and retain.
A significant number (60 per cent) were of the opinion that more than 50 per cent candidates ended up declining the job offer because of competitors offering them better pay packages. In some cases, rehiring has been done for the same post 23 per cent of the time in a single financial year.
Eighty five per cent of the candidates accept a job offer based on the remuneration and quality of work. While 23 per cent of the organisations depended on employee referrals to source candidates, 22 per cent referred to job portals.
About 12 per cent of the organisations relied on campus recruitment, which most of them found rather successful, with the right tech candidates being finalised 67 per cent of the time.